The Rs 6,500-crore apparel firm Arvind on Thursday announced a tie-up between its subsidiary Arvind Lifestyle Brands and The Childrens Place, the largest pure play childrens specialty apparel retailer in North America. Under the franchise agreement, Arvind is expected to open 50 stores starting early next year.
The Childrens Place, which has been expanding its international franchise business, said Arvind's proven track record of operating successful apparel brands will help the brand in India. The brand caters to children up to the age of 14. The company operates more than 1,000 stores in North America.
The Indian kidswear market presents a huge opportunity and we are confident of gaining a dominant share of the Indian kidswear market with the launch of The Childrens Place, said J Suresh, managing director and CEO, Arvind Lifestyle Brands.
Arvind Brands already has a partnership with various apparel firms and has licences for brands like Tommy Hilfiger, Calvin Klein, Arrow and IZOD, US Polo Association, Elle, Ed Hardy, Hanes, Cherokee, Mossimo and Geoffrey Beene, apart from its own portfolio of 12 brands. Arvind Brands, which has more than 1,000 stores across various brands and formats, plans to open 150-200 stores every year.
On Tuesday, Arvind had announced a separate subsidiary called Arvind Internet (AIL), an e-commerce platform of its own called Creyate. In March this year, the company bought 49% in Calvin Klein India for around Rs 90 crore while in February it had announced a joint venture with Japanese suit manufacturer Goodwill Corporation targetting Rs 100 crore.